Businessman Anil Ambani has agreed to appear before the Enforcement Directorate (ED) in a 15-Year-Old FEMA Case. In his request the Reliance Group chairman said he is available to appear before the investigating agency through video conferencing, after summons were issued to him under the Foreign Exchange Management Act (FEMA). for Friday.&nbsp;A statement issued by a spokesperson of the 66-year-old industrialist said that Anil has agreed to extend “full cooperation” in the probe.&nbsp;The summons are for the case related to a FEMA inquiry and not the Prevention of Money Laundering Act (PMLA) that certain sections of the media have reported.<h2>What is the FEMA case?</h2>&nbsp;The investigation is in connection to the alleged transfer of funds linked to the Jaipur–Reengus Highway Project, where the ED suspects nearly Rs 100 crore were illicitly transferred abroad through hawala channels, reported Zee Business.&nbsp;The project was under the name of Reliance Infrastructure Ltd and was executed under an EPC contract.<h2>What did Anil say?</h2>Anil Ambani's spokesperson while speaking to the media said that the industrialist had no operational role in the company and only served as a non-executive director at Reliance Infrastructure from April 2007 to March 2022&nbsp;The company says that the JR Toll Road construction completed in 2021 and was handed over to NHAI. Therefore, the question of any foreign exchange regulation violation does not arise.&nbsp;&nbsp;

A statement issued by a spokesperson of the 66-year-old industrialist said that Anil has agreed to extend “full cooperation” in the probe.

Businessman Anil Ambani has agreed to appear before the Enforcement Directorate (ED) in a 15-Year-Old FEMA Case. In his request the Reliance Group chairman said he is available to appear before the investigating agency through video conferencing, after summons were issued to him under the Foreign Exchange Management Act (FEMA). for Friday. A statement issued by a spokesperson of the 66-year-old industrialist said that Anil has agreed to extend “full cooperation” in the probe. The summons are for the case related to a FEMA inquiry and not the Prevention of Money Laundering Act (PMLA) that certain sections of the media have reported. What is the FEMA case? The investigation is in connection to the alleged transfer of funds linked to the Jaipur–Reengus Highway Project, where the ED suspects nearly Rs 100 crore were illicitly transferred abroad through hawala channels, reported Zee Business. The project was under the name of Reliance Infrastructure Ltd and was executed under an EPC contract. What did Anil say? Anil Ambani's spokesperson while speaking to the media said that the industrialist had no operational role in the company and only served as a non-executive director at Reliance Infrastructure from April 2007 to March 2022 The company says that the JR Toll Road construction completed in 2021 and was handed over to NHAI. Therefore, the question of any foreign exchange regulation violation does not arise.

A statement issued by a spokesperson of the 66-year-old industrialist said that Anil has agreed to extend “full cooperation” in the probe.

Anil Ambani offers to appear virtually before ED in FEMA Case

Reacting to media queries regarding a proposed press conference by a now-defunct online platform, Reliance Group said on Wednesday that some corporate rivals, who are acting through nominated individuals and associated entities, have been running a “deliberate and sustained campaign of calumny, disinformation, and character assassination” against it.&nbsp;The company also called Cobrapost a self-appointed custodian of public interest. It said the exercise was aimed at creating confusion and undermining the confidence of over 55 lakh shareholders in Reliance Infrastructure and Reliance Power.&nbsp;It said that these corporate rivals have orchestrated this exercise to tarnish the reputation of Reliance Infrastructure, Reliance Power, Anil Ambani, as well as the more than 55 lakh shareholders.&nbsp;The Reliance Group also said that the rivals’ underlying motive is “to influence public perception, and manipulate market sentiment to serve their own vested commercial interests”.&nbsp;The Reliance Group said that the proposed press conference is an attempt to tarnish the company and Anil Ambani's image and credibility. It also said that the exercise aims to destabilise shareholder confidence and influence ongoing investigations.&nbsp;Reliance Infrastructure and Reliance Power are part of Reliance Group, led by top businessman Anil Ambani. Both Reliance Infrastructure and Reliance Power are debt-free with zero outstanding loans from banks or other financial institutions.&nbsp;Reliance Group also stated that its financial strength is reflected in its net worth and annual turnover -- each amounting to over Rs 33,000 crore.&nbsp;The group said that no new facts or revelations in the material were being circulated&nbsp;or proposed to be disseminated.&nbsp;It said that Cobrapost carried out the regurgitation of publicly available information. It also misrepresented, distorted, and took the information entirely out of context.&nbsp;"The information being referred to is long available in the public domain and has already been examined by statutory authorities, including the CBI, ED, SEBI, and other competent agencies," it added.&nbsp;The group pointed out that many matters are being adjudicated before competent judicial forums, and any suo motu comments or statements on these subjects would amount to contempt of court.&nbsp;Reliance Group accused Aniruddha Bahal, founder and editor-in-chief of Cobrapost, of engaging in “improper and coercive tactics”, seeking to “extract concessions that ‘more than meets the eye’ from the Reliance Group under the guise of professional and impartial journalism”.&nbsp;The group alleged that many individuals claiming links with Cobrapost approached people linked with the company and suggested that the matter could be "settled" through ethically and legally questionable means.&nbsp;It called such conduct unlawful and unacceptable. It said the exercise reflects a disturbing pattern of blackmail and greenmail-style tactics.&nbsp;The company said it will take measures to protect the interests of its shareholders. It is exploring pursuing appropriate legal remedies, ranging from contempt proceedings to defamation actions.&nbsp;Reliance Group said that Cobrapost, dormant since 2019, has zero journalistic credibility and a 100 per cent track record of agenda-driven stings. Its sudden revival is fully funded by entities with direct commercial interest in acquiring Reliance Group assets.

Reacting to media queries regarding a proposed press conference by now-defunct online platform, Reliance Group said on Wednesday that some corporate rivals, who are acting through nominated individuals and associated entities, have been running a “deliberate and sustained campaign.

Reacting to media queries regarding a proposed press conference by a now-defunct online platform, Reliance Group said on Wednesday that some corporate rivals, who are acting through nominated individuals and associated entities, have been running a “deliberate and sustained campaign of calumny, disinformation, and character assassination” against it. The company also called Cobrapost a self-appointed custodian of public interest. It said the exercise was aimed at creating confusion and undermining the confidence of over 55 lakh shareholders in Reliance Infrastructure and Reliance Power. It said that these corporate rivals have orchestrated this exercise to tarnish the reputation of Reliance Infrastructure, Reliance Power, Anil Ambani, as well as the more than 55 lakh shareholders. The Reliance Group also said that the rivals’ underlying motive is “to influence public perception, and manipulate market sentiment to serve their own vested commercial interests”. The Reliance Group said that the proposed press conference is an attempt to tarnish the company and Anil Ambani's image and credibility. It also said that the exercise aims to destabilise shareholder confidence and influence ongoing investigations. Reliance Infrastructure and Reliance Power are part of Reliance Group, led by top businessman Anil Ambani. Both Reliance Infrastructure and Reliance Power are debt-free with zero outstanding loans from banks or other financial institutions. Reliance Group also stated that its financial strength is reflected in its net worth and annual turnover -- each amounting to over Rs 33,000 crore. The group said that no new facts or revelations in the material were being circulated or proposed to be disseminated. It said that Cobrapost carried out the regurgitation of publicly available information. It also misrepresented, distorted, and took the information entirely out of context. "The information being referred to is long available in the public domain and has already been examined by statutory authorities, including the CBI, ED, SEBI, and other competent agencies," it added. The group pointed out that many matters are being adjudicated before competent judicial forums, and any suo motu comments or statements on these subjects would amount to contempt of court. Reliance Group accused Aniruddha Bahal, founder and editor-in-chief of Cobrapost, of engaging in “improper and coercive tactics”, seeking to “extract concessions that ‘more than meets the eye’ from the Reliance Group under the guise of professional and impartial journalism”. The group alleged that many individuals claiming links with Cobrapost approached people linked with the company and suggested that the matter could be "settled" through ethically and legally questionable means. It called such conduct unlawful and unacceptable. It said the exercise reflects a disturbing pattern of blackmail and greenmail-style tactics. The company said it will take measures to protect the interests of its shareholders. It is exploring pursuing appropriate legal remedies, ranging from contempt proceedings to defamation actions. Reliance Group said that Cobrapost, dormant since 2019, has zero journalistic credibility and a 100 per cent track record of agenda-driven stings. Its sudden revival is fully funded by entities with direct commercial interest in acquiring Reliance Group assets.

The company also called Cobrapost a self-appointed custodian of public interest. It said the exercise was aimed at creating confusion and undermining the confidence of over 55 lakh shareholders in Reliance Infrastructure and Reliance Power.

Reliance Group slams Cobrapost allegations: 'Campaign of disinformation'

India’s Enforcement Directorate (ED) has mounted a sweeping investigation into companies linked to Anil Ambani, with searches across dozens of sites, marathon questioning and fresh regulatory heat from SEBI. The probe spans alleged loan diversion, bogus guarantees and suspected laundering routed through a web of entities. Below is a clear, narrative explainer pulling together what is known so far, with every core fact attributed to credible outlets.<h2>All about ED's probe on Anil Ambani</h2>On July 24, 2025, India’s financial crime agency prepared a coordinated operation targeting more than 35 premises tied to the Reliance Group, covering 50 companies and 25+ individuals, as per a government source cited by Reuters. The focus: suspected money laundering connected to group entities. Within days, the ED searched over 35 locations in Mumbai and elsewhere linked to Ambani-associated entities, part of a case built on prior FIRs alleging siphoning of public money. The Times of India reported investigators suspect a diversion in the ₹20,000–₹30,000 crore range (approx. $2.3–$3.4 billion).&nbsp;As the probe widened, ANI reported the ED is examining whether funds at Reliance Home Finance (RHFL) and Reliance Commercial Finance (RCFL) were routed to Reliance Infrastructure and Reliance Power, contrary to stated purposes. Investigators have sought loan details from about 20 banks while grilling multiple senior executives. The overall case under the ED lens is pegged at ₹17,000 crore ( $2.0 billion).&nbsp; After the July raids phase, the ED summoned Anil Ambani; he appeared on August 5, 2025 and faced hours of questioning under PMLA, as per ANI. This comes after the central agency issued a Look-Out Circular (LOC) to prevent his travel abroad while the probe proceeds, as reported by ANI.&nbsp;&nbsp;The follow-up rounds of questioning for close aides, and that Ambani reportedly sought time to submit documents, while company statements have stressed cooperation with authorities. In a related company communication cited by ET, Reliance Power and Reliance Infrastructure said ED raid actions at their premises had concluded, with officials fully cooperating.&nbsp;<h2>SEBI rejects settlement bid</h2>Adding pressure on the group, SEBI has rejected a settlement plea by Anil Ambani and his son tied to Reliance Mutual Fund’s 2016–2019 investments in Yes Bank’s AT-1 bonds. Reuters reported the regulator’s documents alleged the ₹2,150 crore (≈ $245 million) AT-1 exposure was intertwined with loans Yes Bank extended to other Ambani-group entities and that investors suffered estimated losses of ₹1,828 crore (≈ $208.4 million) after the 2020 write-off. Reuters said SEBI has shared its findings with the ED for potential action.&nbsp;<h2>How big is the risk for the group now?</h2>Taken together, the ED’s ₹17,000 crore (≈ $2.0 billion) loan-diversion probe, the ₹68.2 crore (≈ $7.8 million) fake-guarantee strand, and SEBI’s findings tied to Yes Bank’s AT-1 bonds present a multi-pronged legal challenge. The ED operation has already spanned 35 plus sites, with ongoing analysis of inter-company flows and financing structures, as per Reuters. Company statements quoted by the Economic Times say group entities are cooperating.&nbsp;&nbsp;<h2>The SECI ‘fake guarantee’ strand</h2>A parallel ED line of inquiry involves a bogus bank guarantee of ₹68.2 crore ($7.8 million) allegedly submitted to the Solar Energy Corporation of India (SECI). Economic Times reports the document purportedly impersonated SBI communications and referenced entities including Reliance NU BESS Ltd and Maharashtra Energy Generation Ltd. Arrests have followed in this strand of the probe, according to the outlet’s reporting.&nbsp;&nbsp;(With inputs from the agencies)&nbsp;

Key financial entities like Reliance Home Finance are being scrutinised. Additionally, SEBI rejected a settlement bid involving ₹2,150 crore related to Yes Bank's AT-1 bonds. 

India’s Enforcement Directorate (ED) has mounted a sweeping investigation into companies linked to Anil Ambani, with searches across dozens of sites, marathon questioning and fresh regulatory heat from SEBI. The probe spans alleged loan diversion, bogus guarantees and suspected laundering routed through a web of entities. Below is a clear, narrative explainer pulling together what is known so far, with every core fact attributed to credible outlets. All about ED's probe on Anil Ambani On July 24, 2025, India’s financial crime agency prepared a coordinated operation targeting more than 35 premises tied to the Reliance Group, covering 50 companies and 25+ individuals, as per a government source cited by Reuters. The focus: suspected money laundering connected to group entities. Within days, the ED searched over 35 locations in Mumbai and elsewhere linked to Ambani-associated entities, part of a case built on prior FIRs alleging siphoning of public money. The Times of India reported investigators suspect a diversion in the ₹20,000–₹30,000 crore range (approx. $2.3–$3.4 billion). As the probe widened, ANI reported the ED is examining whether funds at Reliance Home Finance (RHFL) and Reliance Commercial Finance (RCFL) were routed to Reliance Infrastructure and Reliance Power, contrary to stated purposes. Investigators have sought loan details from about 20 banks while grilling multiple senior executives. The overall case under the ED lens is pegged at ₹17,000 crore ( $2.0 billion). After the July raids phase, the ED summoned Anil Ambani; he appeared on August 5, 2025 and faced hours of questioning under PMLA, as per ANI. This comes after the central agency issued a Look-Out Circular (LOC) to prevent his travel abroad while the probe proceeds, as reported by ANI. The follow-up rounds of questioning for close aides, and that Ambani reportedly sought time to submit documents, while company statements have stressed cooperation with authorities. In a related company communication cited by ET, Reliance Power and Reliance Infrastructure said ED raid actions at their premises had concluded, with officials fully cooperating. SEBI rejects settlement bid Adding pressure on the group, SEBI has rejected a settlement plea by Anil Ambani and his son tied to Reliance Mutual Fund’s 2016–2019 investments in Yes Bank’s AT-1 bonds. Reuters reported the regulator’s documents alleged the ₹2,150 crore (≈ $245 million) AT-1 exposure was intertwined with loans Yes Bank extended to other Ambani-group entities and that investors suffered estimated losses of ₹1,828 crore (≈ $208.4 million) after the 2020 write-off. Reuters said SEBI has shared its findings with the ED for potential action. How big is the risk for the group now? Taken together, the ED’s ₹17,000 crore (≈ $2.0 billion) loan-diversion probe, the ₹68.2 crore (≈ $7.8 million) fake-guarantee strand, and SEBI’s findings tied to Yes Bank’s AT-1 bonds present a multi-pronged legal challenge. The ED operation has already spanned 35 plus sites, with ongoing analysis of inter-company flows and financing structures, as per Reuters. Company statements quoted by the Economic Times say group entities are cooperating. The SECI ‘fake guarantee’ strand A parallel ED line of inquiry involves a bogus bank guarantee of ₹68.2 crore ($7.8 million) allegedly submitted to the Solar Energy Corporation of India (SECI). Economic Times reports the document purportedly impersonated SBI communications and referenced entities including Reliance NU BESS Ltd and Maharashtra Energy Generation Ltd. Arrests have followed in this strand of the probe, according to the outlet’s reporting. (With inputs from the agencies)

The probe centers on alleged money laundering, loan diversion of ₹20,000–₹30,000 crore, and bogus guarantees.

ED’s crackdown on Anil Ambani: Inside the loan fraud and money-laundering probe